Now he wants to focus on a single business, agriculture. So Kamal is applying for a loan from Kiva’s partner, Al Majmoua. To start with, he will use the money to buy five calves for $200 each. In the future, he intends to further grow the herd and specialize in this sector, leaving the transportation business.
This is Kamal’s first loan with Al Majmoua and he is optimistic about it. With his serious hard work, he is positive that his business diversity and growth will generate more revenues for him and his family.
About Al Majmoua – Lebanese Association for DevelopmentThe Lebanese Association for Development – Al Majmoua is Lebanon’s leading microfinance institution and the oldest Kiva partner in Lebanon. Al Majmoua’s vision is to “be the leader in creating an inclusive financial system where all people in Lebanon have access to affordable services.” Given Lebanon's diverse population, Al Majmoua lends to all nationalities, provided legal residency. The strong financial position achieved to date has allowed Al Majmoua to steadily lower its pricing over the years.
Based on the belief that non-financial services play a complementary role in improving the quality of life of the most vulnerable entrepreneurs, Al Majmoua has established a solid Business Development Services program for both borrowers and non-borrowers with a focus on women and youth.
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